How to Buy Internet Computer (ICP) in the USA 

A Beginner’s Guide to Buying and Selling Internet Computer Cryptocurrency in the USA

Last Updated July 23rd 2021
5 Min Read

Cryptocurrencies are gaining fast adoption among people, especially in the USA. There are many cryptocurrencies worldwide, and to diversify your portfolio, you need other digital assets such as Internet Computer (ICP). This is a new crypto in the market, but it is also very valuable.

Investing in cryptocurrencies in the USA does not need to be a complex process. With this guide, you will have all the details you need to know about investing in cryptocurrencies and some of the important things you should consider before starting your journey in this field. 

Before you go any further, it is important that you understand that cryptocurrencies are very risky to invest in. They have high market volatility because their prices keep changing, and sometimes you can lose your money, and at times you can make quick profits. 

What's in This Guide?

  1. QUICK GUIDE: HOW TO BUY INTERNET COMPUTER (ICP) IN THE USA
  2. A step-by-step guide to buying ICP in the USA
  3. Store your ICP in a wallet
  4. How to sell ICP
  5. Things to consider when buying ICP in the USA
  6. Conclusion

QUICK GUIDE: HOW TO BUY INTERNET COMPUTER (ICP) IN THE USA

  1. Open an account with a cryptocurrency exchange.
  2. Verify your account.
  3. Go to the deposit section
  4. Go to the platform and select Internet Computer.
  5. Enter how many Internet Computer ICP coins you want to buy.
  6. Check the details and confirm your purchase.

A step-by-step guide to buying ICP in the USA 

To buy ICP tokens in the USA, follow these simple steps: 

Step 1: Open an Online account 

The first step is to look for a crypto exchange in the USA to buy ICP tokens. There are several exchanges in the USA, and to select one, you need to ensure that it can support ICP tokens. 

If you are a new trader, you also need to look at whether the exchange has a good support system to guide you through all the processes. You can also check if the exchange has educational materials that can help you advance your trading skills. 

When you have chosen an exchange that you want to use, the next step is to open an account using your details. You can use information such as the name, phone number, and email address. You also need to verify your details using supporting documents such as a driver’s license, social security number, and others. 

Opening an exchange is a very simple process that will only take you less than five minutes. 

Step 2: Deposit funds into the account 

The next step is to deposit funds into the exchange account to start buying ICP tokens. Depositing the funds is a very easy process that will also take a few minutes. All you need is to link your credit card or your bank account to the exchange and then choose the amount of funds you would like to invest with. 

Some exchanges do not allow the direct purchase of ICP tokens using USD. In this case, you will need to fund your account using other cryptocurrencies such as Bitcoin and Ethereum. Simply deposit funds to the exchange and then choose another token you can purchase with USD and later exchange that token for ICP. 

Step 3: Buy Internet Computer ICP 

The third step is to buy ICP tokens using the fiat currency or cryptocurrency you have deposited in the exchange. Buying ICP is very easy. Just go to the buy section on the exchange and then input the amount you want to purchase. You will receive a prompt asking you to confirm your transaction. After confirmation, a notification will be sent to you informing you that the transaction has been settled. 

There are two ways for you to fulfill your order on the exchange account. You can either select to buy using a market order or a limit order. The market order is for transactions that will be settled instantly using the current market prices. 

However, if you think that the current market prices for ICP are too high for you to buy the token, you can use a limit order. The limit order allows you to set a low price that you will buy ICP tokens. When ICP tokens reach that price, your order will be settled instantly. 

Check Out: Why Internet Computer is Going to Explode in 2021

Store your Internet Computer ICP in a wallet 

After you have bought ICP tokens, the next thing you need to do is to store them in a crypto wallet. There are several crypto wallets that you can choose to store your ICP holdings. Exchanges usually give you online wallets, also known as hot wallets. The wallets will store your cryptocurrencies online, and this way, it will be easy for you to trade regularly. However, online wallets are not secure. 

The other type of wallet is a cold wallet that stores your cryptocurrencies offline. Cold wallets are more secure than hot wallets. However, storing your crypto in a cold wallet will make it difficult for you to trade ICOP regularly. It is, therefore, suitable for those holding large amounts of ICP tokens or those who want to HODL. 

How to sell Internet Computer ICP 

To sell ICP tokens, you can follow the same process as one of buying the tokens. Login to your exchange account and then enter the amount of ICP that you would like to sell. Afterwards, confirm your transactions, and just like in the purchase process, you will receive a notification in your email detailing your transaction. 

You can sell your ICP tokens for USD that you can later withdraw from the exchange or exchange it with other cryptocurrencies such as Bitcoin that you can later exchange with money. It is also possible for you to withdraw the funds you have sold the tokens for from the exchange and into your bank account. 

Things to consider when buying ICP in the USA 

Some factors that you need to consider when buying ICP in the USA include: 

Availability 

The first thing you should consider is the availability of the token. You need to check if there is enough ICP token in circulation because this will create liquidity that allows you to buy any time. 

Volatility 

You also need to check price volatility in assessing whether to invest in ICP. All cryptocurrencies are highly volatile, so you need to ensure that you can manage the volatility and the high risk associated with crypto investments. 

Usability 

You also need to check the usability of ICP tokens before investing. Usability involves the token being used for activities other than trading. For example, ICP tokens are used to power the Internet Computer protocol, which protects its future. 

Conclusion 

ICP tokens are becoming very popular despite being introduced in the market recently. To buy ICP tokens, open an exchange account and then choose a wallet to store your tokens. It is important to consider several factors before buying the tokens to ensure you are making the right decision. 

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